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3.
Trends in international trade
For a country, trade globalization refers to the output crossing the border, and to the number of jobs
connected with foreign trade. The globalization of trade represents the share of the total volume of trade in
GDP (Baccaro, 2011). According to Chase-Dunn (2002), trade globalization is the ratio of world export divided
by all national GDPs. At global level, it represents the share of total global trade in GDP, the sum for all
countries. Exports of goods and services in EU countries recorded different levels in the period 2005-2012 (see
Fig. 3). In 2012, high values of export’ shares were found in Belgium (86.1%), Netherlands (88.0%), and
Estonia (90.6%), and low levels were found in countries such as Greece (27.0%), France (27.4%) and Italy
(30.2%). Imports of goods and services in EU countries recorded changing levels from year to year, with high
shares in GDP in countries such as Netherlands (79.6%), Belgium (85.0%), and Estonia (90.3%), and low
levels in Italy (29.1%), France (29.6%), and Spain (31.9%).
Fig. 3: Imports and exports of goods and services (% in GDP) in 2012, in some EU countries
Source: created based on data from World Development Indicators (2014), http://databank.worldbank.org.
World merchandise exports rose by 2.1% in 2013. Highest increase was observed in developing Eastern
Asia (6.5%). Imports increased in developing countries from Western Africa (8.6%) and Eastern Asia (6.2%).
Exports declined in Northern Africa (-10.6%), developed Oceania (-5.8%) and developed Asia (-5.5%)
(UNCTAD, 2014; WTO, 2013). According to Eurostat, the ratio between exports and imports in the EU28,
total - all products registered a value under 1.0 in the period 2005-2012, between 0.8 and 0.9, in 2013 the value
of the ratio being 1.0. In the EU, the share of national imports in world imports, total - all products increased
from a value of 12.5% in 2005 to 14.2% in 2013. A similar growth was registered for the share of national
exports in world exports from 11.5% in 2005 to 14.9% in 2013.
In 2010, world exports of goods amounted to 18323 billion US dollars and the value of commercial services
exports amounted to 4345 billion US dollars. In 2010, world merchandise exports increased by 22%, and
exports of commercial services grew by 10% (WTO, 2013). China's trade volume has an important role in
world trade and during 2010-2012 exports and imports registered significant increases. Also, India stands with
significant volume of traded goods. In 2011 and 2012, in Europe and in South and Central America, the real
growth of imports and exports were lower compared with the situation in other regions, in the same time a
stagnation of the economies in the region being recorded. For 2010 and 2012, U.S. imports were higher than
the world average, helping to maintain volume growth of global trade. According to Eurostat (2011), the
evolution of intra-EU27 trade of Romania in the period 2005-2010 show an upward trend, but there is also a
trend of reduction of trade relationships of Romania with other European countries (e.g. dispatches of Romania
to United Kingdom, Austria, and Malta) (see Fig. 4). In the case of intra-EU27 arrivals of Romania there are
similar trends, increasing flows with some countries, and decreasing flows with other countries (in relations
with countries such as United Kingdom, Sweden, Finland, Italy, France, Spain, and Ireland).
In the hierarchy of main trading partners of Romania, Germany and Italy are on the top two places in 2012,
with a share of 29.5% in international trade. Romania exports to Germany a variety of products, such as:
135
Marius-R
ăzvan Surugiu and Camelia Surugiu / Procedia Economics and Finance 32 ( 2015 ) 131 – 138
machinery, appliances and electrical equipment, apparatus for recording or reproducing sound and images;
transport means and materials; textile materials and articles; base metals and articles. For imports, the products
traded from Germany are represented by: machinery, appliances and electrical equipment, apparatus for
recording or reproducing sound and images; transport means and materials; plastics, rubber and articles; base
metals and articles; chemicals products.
Fig. 4: Intra-EU arrivals (from) and dispatches (to) of Romania, some EU countries (%), 2010.
Source: External and intra-EU trade. A statistical yearbook. Data 1958 – 2010, Eurostat, 2011 Edition.
In relation to Italy, Romania's exports are focused on products such as: textile materials and articles;
machinery, appliances and electrical equipment, apparatus for recording or reproducing sound and images;
shoes, hats, umbrellas and similar items; base metals and articles; transport means and materials. For imports,
the products traded in relationship with Italy are: machinery, appliances and electrical equipment, apparatus for
recording or reproducing sound and images; base metals and articles; textile materials and articles; raw hides
and tanned skins, fur and products from those (INS, 2013). Similarly, the evolution of trade between Romania
and the extra EU27 countries in 2005-2010 shows an upward trend, also with a trend of reduction of trade with
some countries (e.g. extra EU27 exports of Romania with USA and Canada). In the case of extra EU27 imports
of Romania similar trends are observed, of increasing flows with some countries, and also of decreasing with
other countries (in relations with countries such as Russia, USA, Japan, Hong Kong) (Eurostat, 2011).
Globalization has a major impact on the economy, and many countries have liberalized international trade,
with results such as the intensification of flows of goods and services. Globalization in the trade area can
provide benefits such as a higher rate of economic growth, improved living standards, etc., but also another
situation may exist if not all countries benefit equally from globalization. Thus, for developing countries, the
benefits may relate to aspects that emphasizes improved access to global markets for the products of these
countries, improvements in the access of these countries to technology, etc.
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